Question

You discover that every month that you make a loan payment on time, your credit score goes up 3 points. You want to raise your score from 640 to 700. How many months will it take you?

a) 3 months
b) 12 months
c) 20 months
d) 180 month

Answer 1

The correct answer is choice c.

Your goal is to increase your credit score by 60 points. If it increases by three points each month it will take you 20 months to achieve your goal. This is calculated by dividing 60 points / 3 points = 20.